A knitting machine of the type mentioned at the outset is known from DE-A-42 38 600. This knitting machine contains a central control unit and individual intelligent control units for the individual aggregates. The individual control units are equipped in each case with a timer. The connection between the central control unit and the individual control units occurs over an external BUS. On the individual control units program modules are provided which are necessary for the particular aggregate such as, for example, shafts, throw devices, and laying bars for the knitted product to be produced. It is disadvantageous that the coordination of the single individual control units occurs over the central control unit, onto which the signals of the individual timers are forwarded, processed and given back as control signals to the individual control units. For this the central control unit contains an additional BUS-driver. Through this design the control is not only relatively complicated, but especially also limited in the rapidity of the data exchange and of the control of the aggregates.